Wednesday, December 21 2011 22:16
Consumer confidence plummets in Armenia with consumers' outlook becoming increasingly pessimistic
ArmInfo. Consumer confidence index plummeted in Q4 2011 in Armenia from 102% to 90.9%. As compared to Q4 2010 the index fell from 5.3% to 94.7%. The Armenian Central Bank press-service told ArmInfo the current conditions index experienced growth for all the three quarters. The growth for the Q4 was slackening however. Thus, current conditions index grew 2.4% to 93.5% for Q4 versus 11.8% growth in Q3. The future conditions index fell by 10.7% to 88.9% versus 2.5% growth for Q3.
In the current conditions index, big purchases showed a significant growth (10.3%) versus 11.6% growth in Q3. This subindex totaled 95.4% for Q4 and 110.3% for the year. Revenue differentials subindex for Q4 grew 1.9% which is 7.7% less than for Q3 and totaled 96.3%. This subindex totaled 101.9% for the year. Households' assessment of the current economic situation fell 9.7% for Q4 versus 15.4% for Q3 and totaled 86.4%. This subindex totaled 90.3% for the year.
In the future conditions index all the subindices fell for Q4. Expectations of revenue differentials are pessimistic - 17,2% decline for Q4 versus 1.4% growth for Q3. This subindex totaled 81.8% for Q4 and 82.8% for the year. Family employment subindex fell 8.1% for Q4 with major purchases subindex falling 7.2% to 87.1% and 97.5% respectively. These subindices totaled 91.9% and 92.8% for the year, respectively.
Appraisals of all the other subindices fell, which reduced also the consumer confidence index appraisal. The Central Bank has been conducting the poll since 2005 to assess the current economic situation and expectation. The method of calculation is based on the US Conference Board and German IFO standards.
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